Impact of Internet on real estate market

As part of its special E-Business report, Business Week magazine takes a look at the real estate market, which has been transformed substantially by the Web. These days, more than 70% of home buyers shop online before inking a deal, up from 41% in 2001. Online real estate middlemen collected less than 1% of the $60 billion paid in U.S. real estate commissions last year, but they’re expected to hit 4% in 2007, according to Real Trends.